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Markets pushed higher last week and many market indices reached new highs. Our LT wave chart for September indicated strength around the 16th, so yesterday may have been the high for the month. Where do we go from here? Let’s have a look at the Nasdaq chart (click for larger image): We have another week
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Our key reversal levels going into next week: Current Status Key (W) MoM (W) Mode Key (D) MoM (D) Nasdaq 3722 BULL S: 3449 5.94 (6.07) RALLY S: 3643 6.48 (5.93) S&P 500 1688 BULL S: 1603.40 2.31 (2.78) RALLY * S: 1657.60 5.27 (4.25) Nikkei 14405 BULL S: 12814 1.08 (0.9) RALLY S: 13890
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A few weeks ago I introduced the “MoM” indicator in the context of my weekly key reversal levels. In this post I will give more info on the MoM and how to use it. The main idea behind the key reversal levels is “market orientation”, where is the market right now, and where it appears
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A quick mid week update. Stock markets have pushed higher and are in rally mode again. The Nasdaq is testing its first upside target at 3730 already. If it can push through convincingly, then the recent correction will be over. That would mean the correction has been very shallow and would suggest much higher stock
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We seem to be going through a rather mild correction in US stock markets. In other international markets the declines have been more significant. As we said a few months ago, the second half of the year will be more difficult to navigate, and that continues to be the case. Is the correction (almost) over?
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Our key reversal levels going into next week: Current Status Key (W) MoM (W) Mode Key (D) MoM (D) Nasdaq 3660 BULL S: 3426 6.07 (6.69) RALLY * S: 3607 0.60 (-0.26) S&P 500 1655 BULL S: 1598 2.78 (3.79) DECLINE R: 1665 -2.34 (-3.58) Nikkei 13861 BULL S: 12718 0.90 (1.33) RALLY * S:
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Only a quick post for today. Weakness in stock markets around the world has continued. So, it looks like we are getting a weak lunar green period indeed. Let’s have a look at the Nasdaq chart (click for larger image): The Nasdaq has held up better than most other market indices. The 3575 level has
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Our key reversal levels going into next week: Current Status Key (W) MoM (W) Mode Key (D) MoM (D) Nasdaq 3590 BULL S: 3410 6.69 (7.47) DECLINE * R: 3635 -1.62 (-1.39) S&P 500 1633 BULL S: 1595 3.79 (4.96) DECLINE R: 1667.20 -5.82 (-5.72) Nikkei 13389 BULL S: 12634 1.33 (2.12) DECLINE R: 13844
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If you look at a long term chart of the Dow Jones Industrials it is interesting to see how symmetrical the advance since the 1932 depression lows has been. You could turn the chart upside down around a point in late 1974, and it would look almost exactly the same. This chart lines out some
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August is slowly coming to an end. Today we take a look at the LT wave for September (click for larger image): The LT wave did fairly well again in August. US stocks reached a new high on August 5th, but the market failed to build on those gains as was expected on the basis
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LunaticTrader Blog 